Preparation of draft state budget for 2011 is going on according to the schedule approved by the Cabinet of Ministers – base expenditure forecasts, macroeconomic development forecasts, draft tax policy guidelines, shadow economy combating plan are prepared, function evaluation is going on in cooperation with the State Chancellery and non-governmental partners. Only the deadline for the submission of World Bank’s assessment of public financing for health, education and social sector is postponed because experts needed additional time till September.    

According to the information collected by the State Revenue Service (SRS) about the collected revenue in July administered by the SRS it was concluded that the tax revenue plan is almost fulfilled. In total, in previous month the tax revenue received in the state budget administered by the SRS amounted to 303 million lats or ~97 % comparing to the plan.

Together with decisions made by the Cabinet of Ministers (CoM) on Tuesday, 27 July, and Thursday, 29 July, regarding the joint-stock company “Parex banka” the government has made all necessary decisions for successful further restructuring – division of Parex bank as of 1 August.   

MoF: commercial banks represented in Latvia showed very good results

IMF’s Board approved Latvia’s Letter of Intent

Latvia and EC signed Supplemental Memorandum of Understanding

Memorandum of Understanding between Latvia and EU approved

The shadow economy reduction plan offers to facilitate formal economy and burden informal economy

Repše: tax revenue is collected according to the plan

Approved EU fund projects amount to 55% of the financing allocated to Latvia